The Oceanic Economy popularly known as blue economy has emerged as a crucial development issue for optimum use of the oceans, seas and marine resources for sustainable development. Among the sustainable development goals (SDGs), SDG-14 focuses on sustainable use of the oceans, seas and marine resources for sustainable development. Ocean assets provide food and energy which are essential ingredients of human life. By overlooking the three-fourth proportion of the surface of earth, it is tough to achieve sustainable economic development by 2030. Given this, Bangladesh has adopted steps to ensure sustainable use the oceans, seas and marine resources attaining inclusive development and goal related to SDG-14.
Bangladesh has 710 km long coastline
with an exclusive economic zone of 200 Nautical Miles inside the Bay of Bengal.
Marine fisheries contribute 19.4% of the total fish production of the country.
Besides, on an average, 81% of the international tourists visit Cox’s Bazaar in
Bangladesh. The ocean of Bangladesh is contributing a noteworthy role to its
overall socio-economic growth through increasing up the economic activities
across the country and especially to the coastal zone at southern part. A new
economic area for Bangladesh is demarcated in the Bay of Bengal. Already,
Bangladesh has taken steps to flourish
its Blue Economy in order to utilize its new marine resources. Since 2015, the
Government of Bangladesh (GoB) has undertaken a number of consultations and
workshops on Blue Economy. In addition, Seventh-Five Year Plan of Bangladesh
has mentioned twelve actions for maintaining a prosperous and sustainable Blue
Economy, which include fisheries, renewable energy, human resources,
transshipment, tourism and climate change among others. Moreover, in 2017, the
“Blue Economy Cell’ under Ministry of Foreign Affairs (MoFA), GoB has been
established with the mandate to coordinate Blue Economy initiatives across
sectoral ministries. Blue Economy has the prospect to contribute Bangladesh
economy on a much higher level. Twenty six potential Blue Economy sectors have
been identified by the MoFA which include the fishery, maritime trade and
shipping, energy, tourism, coastal protection, maritime safety and surveillance
for development of blue economy in Bangladesh.
Fishery:
Experts opine that fish alone has 500 varieties besides snails, shell-fish,
crabs, sharks, octopuses and other animals. It is estimated that Bangladesh
catches only 0.70 million tons of fish every year out of the total 8 million
tons of fish available in the Bay of Bengal. It is worthwhile to mention that
15 percent of the protein is provided from sea resources for the people across
the world. As many people depend on oceans for their livelihood and foods,
increased efforts are needed to save ocean resources.
Oil
and gas: Bangladesh is yet to assess the true potential of
its offshore gas prospects. Bangladesh could also have gas fields in its area
of the sea. Bangladesh possess some gas fields in the land and like Myanmar,
Bangladesh may have the potentials to get more gas fields in the sea which may
add to the total reserve of gas of the country. Besides, oil and gas, sea salt,
ocean renewable energy, blue energy (osmosis) and biomass, aggregates mining
(sand, gravel, etc.) and marine genetic resource should get more attention as
ocean resources. Therefore, these plenty of potential may contribute to our
sustainable economic development in future.
Tourism:
Globally, coastal tourism is the largest market segment and represents 5 per
cent of world GDP and contributes 6-7 per cent of total employment. In 150
countries, it is one of five top export earners. It is the main source of
foreign exchange for one-half of Least Developed Countries (LDCs).
Coastal tourism includes a) beach-based
recreation and tourism, b) tourist activities in proximity to the sea, and c)
nautical boating including yachting and marinas. Sustainable tourism can create
new employment opportunities and reduce poverty. So, Bangladesh can earn
foreign exchange from tourism industry which may contribute to GDP growth as
well as help achieve SDGs by 2030. It is reported that the country has 75
outer-islands which could be utilized for tourists both local and foreign.
Exploring and exploiting these resources through the use of appropriate
technology, the economy of Bangladesh can grow rapidly.
Bangladesh gained a defined maritime
zone in the Bay of Bengal after a longtime dispute settlement of maritime
boundary with India and Myanmar. Bangladesh may pay attention in advancing its
Blue Economy to utilize its vast sea region with sea-based resources through
ensuring a sustainable balance between the protection of marine ecosystem and
marine resources. Now, Bangladesh can create more spaces to ensure economic
growth through fresh investments in marine trade and commerce. The country has
so far, explored only a few number of Blue Economy sectors such as fisheries
and aquaculture, shipbuilding, ship breaking, salt generation and port
facilities. Besides, most of these sectors are following traditional methods. Therefore,
there still remains ample opportunities as well as challenges for exploring
large number of blue economy sectors, safeguarding mangrove and ocean grass,
addressing environmental changes and managing carbon discharge, and introducing
innovative technology for further development to contribute in achieving
sustainable development goals.